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Senate Commerce Committee Statement to Assembly, No. 2279 (New Jersey, June 12, 2025)

Summary

Senate Commerce Committee Statement to Assembly, No. 2279, State of New Jersey, dated June 12, 2025. The committee reports favorably Assembly Bill No. 2279, which requires the State Real Estate Appraiser Board to adopt an alternative program for prospective real estate appraisers to acquire experiential requirements for licensure or certification. Under the bill, the board is to adopt the practical application of real estate appraisal (PAREA) program of the Appraisal Qualifications Board. The statement says prospective appraisers can fulfill up to 100 percent of their experience requirements virtually under PAREA, and that the bill is identical to Senate Bill No. 1312.

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“Senate Commerce Committee Statement to Assembly, No. 2279 (New Jersey, June 12, 2025).” Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/2025-06-12-scm-a2279-s2-608f062848/, SHA-256 7ecbb2c0da5e752566ab0d5b5218874f39f7e14fb154c5e42fe8b4e98117df5b.

Full text

     SENATE COMMERCE COMMITTEE

                    STATEMENT TO

               ASSEMBLY, No. 2279

 STATE OF NEW JERSEY
                       DATED: JUNE 12, 2025

    The Senate Commerce Committee reports favorably Assembly Bill
No. 2279.
    This bill requires the State Real Estate Appraiser Board to adopt an
alternative program to acquire experiential requirements for
prospective real estate appraisers attempting to qualify for licensure or
certification based on the standards of the Appraisal Qualifications
Board of the Appraisal Foundation.
    Under the bill, the board will be required to adopt the Appraisal
Qualification Board’s practical application of real estate appraisal
(PAREA) program as an alternative means of acquiring experiential
requirements for a prospective real estate appraiser looking to become
a licensed or certified appraiser. Presently, a prospective real estate
appraiser must locate a licensed or certified appraiser who is willing to
supervise the prospective appraiser as they attain their experiential
requirement. The process to find a supervisor is difficult, with no
formal process to help aspiring appraisers find a supervisor that can
oversee them. Under PAREA, prospective real estate appraisers can
fulfill up to 100 percent of their experience requirements virtually by
creating real-world simulations that combine appraisal theory and
methodology. PAREA also provides prospective real estate appraisers
with mentors to supervise them.
    As reported by the committee, Assembly Bill No. 2279 is identical
to Senate Bill No. 1312, which was also reported by the committee on
this date.

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